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Beiersdorf

Executive Summary

Hamburg will sell its 10% stake in Nivea maker Beiersdorf for $1.63 mil., the German city announces. Deutsche Bank, which organized the sale, will sell Hamburg's 25.2 mil. shares of the company to institutional investors. The price of the stock will range from $62.15 to $64.74. Hamburg owned the shares through a holding company that was formed in 2003. The sale will increase Beiersdorf's liquidity on the Frankfurt stock exchange and increase the likelihood of the firm being included in Germany's blue chip DAX index. Sales for the Beiersdorf group reached $763.99 mil. in 2006, the company says...
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